Digital Health Market Size [2022-2028] to Reach USD 485.3 billion by 2028 With CAGR of 16.5% | Latest Report On Digital Health Market By Markets N Research
Some key manufacturers operating in digital health market are BioTelemetry Inc, eClinicalWorks, Allscripts Healthcare Solutions Inc, iHealth Lab Inc, AT & T, Honeywell International Inc, Athenahealth Inc., Cisco Systems, McKesson Corporation, Koninklijke Philips N.V., AdvancedMD Inc. and Cerner Corporation.
Chicago, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The report "Digital Health Market by Component (Software, Hardware, Services), Technology (Telehealthcare, Telehealth, Video Consultation, LTC Monitoring, Telecare, Remote Medication Management, Activity Monitoring, mHealth, Apps, Wearables, Digital Health Systems, E-prescribing Systems, Electronic Health Records, Health Analytics) and Region (North America, Europe, APAC, RoW) – Global Forecast to 2028" is projected to grow from USD 194.1 billion in 2021 and is projected to reach USD 485.3 billion by 2028; it is expected to grow at a CAGR of 16.5% from 2021 to 2028.
The primary drivers of the market growth for digital health are an increase in the need for remote monitoring services, an increase in the prevalence of chronic diseases, and an improvement in technology. Through the projected period, the market expansion is anticipated to be fuelled by factors including expanding favorable government initiatives, expanding remote patient monitoring service demand, and improving IT infrastructure.
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Digital Health Market Report Scope & Segmentation:
Report Matrics | Details |
Market size for available years | 2022-2028 |
Base year considered | 2021 |
Forecast period | 2022-2028 |
| By Component
|
By Technology
| |
Regions covered | North America, Europe, APAC, MEA, and Latin America |
Companies covered | BioTelemetry Inc, eClinicalWorks, Allscripts Healthcare Solutions Inc, iHealth Lab Inc, AT & T, Honeywell International Inc, Athenahealth Inc., Cisco Systems, McKesson Corporation, Koninklijke Philips N.V., AdvancedMD Inc. and Cerner Corporation. |
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Markets N Research lists out all the Digital Health Market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
BioTelemetry Inc
eClinicalWorks
Allscripts Healthcare Solutions Inc
iHealth Lab Inc
AT & T
Honeywell International Inc
Athenahealth Inc.
Cisco Systems
McKesson Corporation
Koninklijke Philips N.V.
AdvancedMD Inc.
Cerner Corporation.
Recent Developments
In May 2022, launched by NXGN Management, LLC, NextGen Health Data Hub Insights. It is a data warehouse and bespoke analytics solution to expedite data access, analytics, and report generation for Health Information Exchanges (HIEs) and healthcare providers across the United States.
In September 2021, the usage of RPM was announced by the UMMC (University of Mississippi Medical Clinic) in association with the North Mississippi Primary Health Care Center, which is federally approved. The objective was to improve patient health outcomes and promote patient access to diabetes care management.
In July 2021, to improve the care of patients and quicken clinical trials, Koninklijke Philips N.V. and Cognizant announced a collaboration to create comprehensive digital health solutions.
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The software category in the digital health market is expected to be the fastest-growing segment during the forecast period
The software segment is projected to grow the fastest during the forecast period. The growth can be attributed to how quickly patients, healthcare institutions, clinicians, and insurance payers have adopted software solutions. The rise of the software market is aided by rising healthcare costs and the move toward greater digitization in the industry. The rise of the software market is driven by the rising consumer demand for personalized treatment and the shift to value-based care. Healthcare facilities in emerging economies quickly use these cutting-edge software programs and platforms to improve their organizational workflows and operational, clinical, and financial results.
mHealth technology of digital health market to record highest CAGR from 2022 to 2027
The mHealth category is expected to account for the highest CAGR of the digital health market from 2022 to 2027. The rising incidence of cardiovascular disorders and related mobile health devices propels market expansion. mHealth is anticipated to expand. Through the forecast period, factors such as a rise in smartphone adoption, an increase in demand for remote monitoring devices, and the incidence of hypertension are anticipated to propel market expansion for the sector. IT businesses are implementing various techniques to boost the adoption of mHealth solutions that boost productivity in healthcare institutions. Additionally, a mHealth application helps save patient data gathered on a remote cloud. Healthcare professionals can use this recorded data to examine parameters associated with a medical condition.
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Global Digital Health Market – By Component
Software
Hardware
Services
Global Digital Health Market – By Technology
Telehealthcare
Telehealth
Video Consultation
LTC Monitoring
Telecare
Remote Medication Management
Activity Monitoring
mHealth
Apps
Wearables
Digital Health Systems
E-prescribing Systems
Electronic Health Records
Health Analytics
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Regional Insights:
Asia Pacific is anticipated to grow at a significant rate in digital health market share from 2022 to 2027
The Asia Pacific is the fastest-growing region in the digital health market. It is anticipated that rising government initiatives by the region's nations to implement digitalization in healthcare services will fuel market revenue growth. The amount spent on health care in India rose from Rs 2.73 trillion in 2019-20 to Rs 4.72 trillion in 2021-20, a 73% increase. The Government of India created the National Digital Health Mission to develop and enhance the management of digital healthcare data and infrastructure. Digital health solutions are being adopted due to rising demand for wearable technology, such as fitness trackers and health monitors. This is fueling market revenue growth in the region's nations.
Table of Contents:
Chapter 1 Preface
1.1 Report Scope and Description
1.1.1 Study Purpose
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Key Benefits for Stakeholders
1.3 Report Scope
Chapter 2 Report Summary
2.1 Key Findings
2.1.1 Top Investment Pockets
2.2 Market Snapshot: Global Digital Health Market
2.3 Global Digital Health Market, 2018 – 2028 (US$ Mn)
Chapter 3 COVID 19 Impact Analysis
3.1 Impact Assessment of COVID-19 Pandemic, By Region
3.1.1 North America: Impact of COVID-19 Pandemic
3.1.2 Europe: Impact of COVID-19 Pandemic
3.1.3 Asia pacific: Impact of COVID-19 Pandemic
3.1.4 Latin America: Impact of COVID-19 Pandemic
3.1.5 Middle-East and Africa: Impact of COVID-19 Pandemic
3.2 Key Strategies Undertaken by Companies to Tackle COVID-19
3.3 Quarterly Market Revenue by Region 2021 & 2022
3.4 Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
3.5 Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
3.6 Short Term Dynamics
3.7 Long Term Dynamics
Chapter 4 Global Digital Health Market, by Component Segment Analysis
4.1 Digital Health Market Overview, by Component Segment
4.1.1 Global Digital Health Market Revenue Share, by Component, 2022 & 2028 (Value, %)
4.2 Software
4.2.1 Digital Health Share Forecast, By Region (USD Million)
4.2.2 Comparative Revenue Analysis, By Country, 2021 & 2028
4.2.3 Key Market Trends, Growth Factors, & Opportunities
TOC Continued…!
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